First Financial Management Corp. announces record financial performance for 1994

Jan. 24, 1995--Patrick H. Thomas, Chairman, President and Chief Executive Officer of First Financial Management Corporation (FFMC) today announced the Company achieved record financial performance for the twenty-third consecutive year. Revenues for the year ended December 31, 1994 were up 25% to $2....

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Bibliographic Details
Published inBusiness Wire p. 1
Main Author Thomas, Patrick H
Format Newsletter
LanguageEnglish
Published New York Business Wire 24.01.1995
Subjects
Computer service industry
Financial statements
Revenue
South Atlantic
Atlanta
GA
US
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Summary:Jan. 24, 1995--Patrick H. Thomas, Chairman, President and Chief Executive Officer of First Financial Management Corporation (FFMC) today announced the Company achieved record financial performance for the twenty-third consecutive year. Revenues for the year ended December 31, 1994 were up 25% to $2.2 billion compared with $1.8 billion in the prior year. Net income increased 22% to $160.2 million from 1993's $131.8 million. Earnings per share were up 21% to $2.56 from $2.12 a year ago. At the end of the period, the Company had cash and cash equivalents of $326 million, shareholders' equity of $1.4 billion and unused bank lines of credit of over $950 million. Results for prior periods have been restated to reflect the acquisition of Genex Services, Inc. on a pooling of interests basis. (excerpt)